The company reported a beat on both revenue and earnings per share in its second earnings report ever as a public company.

But it also disclosed an unexpected executive departure: Chief Operating Officer Dennis Woodside, long considered a key lieutenant to CEO Drew Houston, is leaving the company. He will stay at Dropbox through early September, and will remain an advisor through the end of 2018.

His departure corresponds with Dropbox’s lock-up period for employees, which dictates how soon they can sell their stock after a company goes public. The lock-up period ends August 23.

Instead of replacing Woodside with a new COO, Dropbox will restructure its executive team to distribute his duties, the company says. Yamini Rangan, currently VP of business strategy & operations, was promoted to chief customer officer. Lin-Hua Wu, VP of communications, will keep her title but report directly to Houston.